Global Biofertilizers Market is expected to record a positive CAGR of ~14% during the forecast period (2022-2028): Ken Research
What Is the Size of Global Biofertilizers Industry?
Global Biofertilizers market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 5 Bn by 2028. The Biofertilizers Market is largely driven by rising demand for chemical-free food and increasing prices of chemical fertilizers. The demand for chemical-free food products is likely to increase, while the cost of synthetic fertilizers is predicted to rise over the forecasted years. Additionally, worries about the deteriorating soil quality brought on by excessive fertilizer use and their negative impacts on human health are anticipated to raise the market in the upcoming years.
Additionally, growing consumer expenditure on organic foods and an improvement in soil texture and quality brought on by biofertilizers are expected to drive the market over the upcoming years. In comparison to conventional fertilizers, the cost of producing biological and organic fertilizers is significantly higher. Their manufacture requires machinery and equipment. Live, finite-shelf-life microorganisms are a component of biofertilizers. Low versatility and shelf life are hence additional factors that are anticipated to impede market expansion during the projection period.
Due to the socio-economic changes brought on by the COVID-19 pandemic, the worldwide market slowed down as a result of the epidemic. However, with the decline of Covid-19, the fertilizers market is expected to see a robust growth in the upcoming years.
Global Biofertilizers Market By Type
The Global Biofertilizers market is segmented by Type into Phosphate Solubilizers, Nitrogen Fixing and Others. The nitrogen-fixing segment held the largest market share in the global biofertilizers market in 2022. High-demand crops including wheat, rice, oilseeds, and others have been produced using biological fertilizers that solubilize phosphate and fix nitrogen. Nitrogen-containing biological fertilizers can balance out the soil’s nitrogen content, which helps the crop thrive. The three main types of nitrogen bio-fertilizers are free-living, symbiotic, and associative symbiotic.
Global Biofertilizers Market by Microorganisms
The Global Biofertilizers market is segmented by Microorganisms into Azotobacter, Rhizobium, Cyanobacteria, VAM, Azospirillum and Others. The rhizobium microorganisms segment held the largest share of the global biofertilizers market in 2022.
Rhizobium is the most common type of microbe utilized in agriculture due to its critical role in serving as the primary source of nitrogen in the soil. In addition to being a superior nitrogen-fixing organism, rhizobium fosters plant growth and aids in the solubilization of inorganic phosphate. Its use is also expanding, mostly as a result of its capacity to boost agricultural output while reducing the need for expensive, environmentally damaging synthetic fertilizers.
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Global Biofertilizers Market by Application
The Global Biofertilizers market is segmented by Application into Soil Treatment, Seed Treatment and Others. The seed treatment application segment held the largest share of the global biofertilizers market in 2022.
Due to the widespread use of seed treatment applications for providing biofertilizers, it maintained the largest market share. To prevent viral or bacterial infections, crop and plant seeds are treated with biofertilizers, considerably lowering agricultural production.
Additionally, the biological fertilizers used on the seeds encourage atmospheric nitrogen fixation and make it easy for the crop to access the nutrients. Additionally, seed treatment increases the availability of phosphorus by solubilizing it in the soil.
Market Taxonomy
By Type
- Phosphate Solubilizers
- Nitrogen Fixing
- Others
By Microorganisms
- Azotobacter
- Rhizobium
- Cyanobacteria
- VAM
- Azospirillum
- Others
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By Application
- Soil Treatment
- Seed Treatment
- Others
By Geography
- North America (USA, Canada, and Mexico)
- Europe (Germany, UK, France, Spain, and Italy)
- Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia)
- LAMEA (Latin America, Middle East, and Africa)
Key Players
- Novozymes A/S
- Madras Fertilizers Limited
- Rizobacter Argentina S.A.
- Camson Bio Technologies Limited
- Lallemand, Inc
- National Fertilizers Limited
- Gujarat State Fertilizers & Chemicals Ltd.
- Stanes& Company Limited
- Rashtriya Chemicals & Fertilizers Ltd.
- Nutramax Laboratories, Inc.
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